Spectacular finale to 2024: MDL 41 million in grants for 72 local companies, supported by the Government, the European Union, and the World Bank

The year 2024 ends with a remarkable event for the business community in the Republic of Moldova. The Government of the Republic of Moldova, the European Union, and the World Bank, through the Organization for Entrepreneurship Development, under the Ministry of Economic Development and Digitalisation, have announced the allocation of MDL 41 million in grants for 72 local companies. The total value of the investment in the national economy amounts to over 89 million lei.

Of these, 19 companies will receive funding from the European Union, totalling 9.6 million lei. The Government of the Republic of Moldova will financially support another 51 companies with a total amount of 31.8 million lei, while the World Bank is providing funding for two additional companies amounting to 1 million lei.

At the event announcing the beneficiaries, Deputy Prime Minister and Minister of Economic Development and Digitalisation, Dumitru Alaiba, stated:

“I congratulate the 72 entrepreneurs who have received grants and succeeded in strengthening their businesses. The development of a business is, first and foremost, the result of the hard work and dedication of entrepreneurs. The state contributes by implementing reforms aimed at facilitating remarkable outcomes.

Debureaucratization, digitalisation, income tax reform, along with the Government’s Program 373, have created a favourable environment for business development in our country, enabling entrepreneurs to focus on progress and innovation.

The government remains committed to prioritising reforms that support the business environment. Entrepreneurs are true champions of digitalisation and European integration. Their work, passion, and dedication are essential pillars for the development of our economy and society.

We stand by you and pledge to continue supporting you in building a better and more prosperous future for everyone.”

Vadim Codreanu, Director of the Organization for Entrepreneurship Development, reflected on the achievements of the concluding year. In his speech, the ODA Director captured the essence of progress and collaboration, while also offering an optimistic vision for the year ahead.

“We end this year with a moment of reflection on our shared achievements and an opportunity to look with hope towards future plans. The year 2024 was one of shared visions, bold initiatives, and ideas that, perhaps, changed your direction in life. Together, we have learned how important it is to be courageous, stronger, more resilient, and to always aim for success. Every challenge was a lesson, every success – a step forward on the path to excellence.

Thank you for your courage to dream, your determination to act, and the positive impact you bring to our country. May 2025 be a year of peace, understanding, and prosperity!” said Vadim Codreanu.

The grants are distributed through a series of programs managed by ODA, including the Women’s Entrepreneurship Support Program, the Retrofitting and Energy Efficiency Program for Small and Medium Enterprises (SMEs), the “PARE 1+2” Program, the SME Digital Transformation Program, the SME Greening Program, the Export Competitiveness and Internationalisation Program for SMEs, and the Small Producers Support Program.

The largest investments are allocated to the industrial sector, with approximately 50% of beneficiaries coming from this field. Another 30% of entrepreneurs will invest in acquiring technical equipment for developing the service sector, such as professional, scientific, technical activities, accommodation, public catering, and education. Approximately 20% of the beneficiaries are active in the agricultural sector, where they will direct funds towards modernization and greening their businesses.

Over the course of this year, the Organization for Entrepreneurship Development has facilitated 595 companies in accessing grants totalling over MDL 250 million. Of this amount, almost MDL 179 million came from the state budget, while MDL 54 million were provided by the European Union through the “EU for SMEs” project. The total value of investments in the economy amounts to MDL 532.4 million.

Additionally, the World Bank, through the Export Competitiveness and Internationalisation Program for SMEs, supported 20 companies with funds amounting to nearly 8 million lei.

Furthermore, through the Digital Innovations and Tech Startups Support Program, 20 companies received non-reimbursable grants totalling MDL 8.5 million, with financial support from the Ukraine-Moldova American Enterprise Fund, in partnership with the “Future Technologies” project funded by USAID, Sweden, and the United Kingdom.